Men walk past signage for the state-owned Punjab National Bank in Mumbai India on Wednesday
14 February, 2018, 21:51
Punjab National Bank (PNB) today disclosed that it has detected some fraudulent transactions with financial implication of Dollars 1.77 billion (about Rs 11,346 crore) and the matter has been referred to law enforcement agencies for the recovery.
PNB has found some high amount of fraud and illegal transactions in its Mumbai branch and this all was done to provide the benefit to few account holders with the conspiracy.
'In the bank, these transactions are contingent in nature and liability arising out of these on the bank shall be decided based on the law and genuineness of underlying transactions, ' PNB said, without giving further details.
It followed a complaint lodged by PNB on January 29 pertaining to an alleged cheating case of Rs 280 crore perpetrated by the four aforenamed persons in 2011.
The fraud was detected in one of its branches in Mumbai and the matter has been referred to law enforcement agencies.
YouTube TV "surprise"? 8 new channels; higher prices
Google has announced some updates for its YouTube TV live television streaming service that go into effect today. Current members (or those who sign up before then) will continue paying the original price of $35 per month.
We Can Finally See Chrome's Integrated Ad Blocker at Work Soon
That's why Google recently joined an industry group dedicated to improving online ads, called the Coalition for Better Ads . Interestingly enough, Chrome will also give users the option to disable ad blocking by selecting "allow ads on this site".
The PNB declaration resulted in its shares plunging around 8% - the stock opened at Rs 160 on the BSE and soon fell as much as 7.82% to hit the day's low of Rs 149. That, incidentally, is just short of Rs 4,000 crore less than the total income recently declared by the bank for the third quarter (Q3) of this fiscal. The agency, they said, would probe if the allegedly defrauded bank funds were laundered and these proceeds of crime were subsequently used by the accused to create illegal assets and black money. "It seems that based on the records of these transactions, some banks have given them loans overseas".
All partners of Diamon R US, Solar Exports and Stellar Diamonds and PNB employees Gokulnath Shetty and M H Kharat were also named in the FIR.
According to media reports, the CBI has received two complaints from PNB against designer Nirav Modi and a jewellery company regarding shady transactions worth Rs 10,000 crore.
An LoU is a letter of comfort issued by one bank to branches of other banks, based on which foreign branches offer credit to buyers.
This is the second time in as many weeks that India's second-biggest state-run lender has had to deal with allegations of fraudulent transactions.
Thanks to the ISS , we've come to learn, for instance, that microgravity causes significant changes in the human body and biology. So when you think about it, for a private company to get their employees to work on the ISS , that is a lot of travel expense.
One of the reasons for our high quality is that we thoroughly review concerns about any patient's medical care. The actor, born in Fort Worth, Texas, was starring in USA broadcaster CBS's Training Day series when he died.
But in Morgan's article, he says she took aim at him during the 2008 inaugural season of the Trump-hosted show. On the 12th of February, Manigault dished on Donald Trump and Mike Pence on the CBS reality show.
I honestly never thought I'd have the opportunity. "I believe that everyone is a survivor of something", she told the magazine . They are my idols and they mean so much to me because they have the best work ethic and I feel like.sorry, I'm emotional.
The administration will not have to accept new applications for the programme, but will have to continue accepting renewals. Trump was referring to a deadline he announced previous year to end a program protecting young immigrants from deportation.
Trump for recent tariffs imposed to protect American manufacturers of washing machines, and urged tough measures on steel imports. A bipartisan group of lawmakers met President Trump at the White House to talk about the nation's steel and aluminum industries.
Mary Lou McDonald says they have the "political will" to reach an agreement to restore the devolved government at Stormont . Taoiseach Leo Varadkar travelled to Stormont today to engage in a last-minute meeting with the British Prime Minister.
According to Rare, the game will not feature any loot boxes or any form of microtransactions that will affect player progression. I was admittedly concerned about how long the game's legs would be after the beta, despite having such a good time playing it.
After I disabled Salon's cryptocurrency mining , my idle CPU power went back up to a more typical 70 to 80 percent. Coinhive is a controversial mining tool that was recently uploaded to government websites by hackers.
It would pave a path to citizenship for up to 1.8 million young "Dreamer" immigrants in the US illegally, a lure for Democrats. The White House has repeatedly claimed DACA recipients have until March 5 to worry about being at risk of deportation.
The spokesman said Taliban chief Mullah Fazlullah immediately replaced Mehsud with another commander, Mufti Noor Wali. Pakistan had offered joint investigation into the Kabul's attacks that Kabul had blamed on the Haqqani Network.
They hypothesized that the genes responsible for this "calcium-dependent motif" might be found in other compounds. They had speculated that this novel use of calcium was the key to the longevity of these antibiotics.
Xiaomi is bringing Mi TV 4 to India
Working Xiaomi Redmi Note based on Android 5 with IOS 7 MIUI 9, and its price unlikely to exceed $220 when ordering from China. Last year, adding to its line-up of products, Xiaomi introduced Air Purifier in the Indian market which became a huge success.
Study reveals the link between slow eating and low obesity
Know someone who loves health advice? This may mean that people's relative levels of deprivation could affect the results. Compared to fast eaters, the odds ratio for being obese was 0.58 for slow eaters and 0.71 for normal-speed eaters.
Android P will be ready for the flexible Samsung Galaxy X
Neither of these two things have been finalized for P's official release, but they seem like very plausible changes. We already have Andy Rubin's Essential Phone with the notch-design, and Huawei is expected to join the flock soon.
Veteran Chicago cop gunned down in broad daylight
Patrol officers had approached a man in the street last afternoon who was described as acting suspiciously. Paul Bauer in the Loop on Tuesday, but we already know the 44-year-old man has a lengthy criminal record.
1 dead, 1 hurt after vehicles collide at Heathrow Airport
Heathrow said the airfield remained open during the incident and it worked "to minimise disruption to passengers' journeys". The deceased, aged in his 40s, was taken to a west London hospital but could not be saved, the Metropolitan Police said.
Tillerson skipping Israel in Middle East tour
Secretary of State Rex Tillerson met with Egyptian President Abdel Fattah al-Sisi in Cairo on Monday, the State Department said . She said it "mischaracterized the conference as a pledging conference", and it was not intended as such.
Galaxy Note 9 To Launch Without The Optical Fingerprint Reader
Despite the official announcement of the Galaxy S9 still being over ten days away, we already know a fair bit about the phone. Samsung has also stated that this particular pressure-sensor technology is compatible with LCD, LED and OLED display panels.